Brokers Set Expectations for Hi-Crush Partners LP’s FY2020 Earnings (HCLP)
Hi-Crush Partners LP (NYSE:HCLP) – Investment analysts at Seaport Global Securities issued their FY2020 earnings estimates for Hi-Crush Partners in a report issued on Thursday, October 18th. Seaport Global Securities analyst M. Urban expects that the basic materials company will post earnings of $2.35 per share for the year. Seaport Global Securities currently has a “Buy” rating and a $16.00 price target on the stock.
A number of other equities research analysts also recently commented on HCLP. AltaCorp Capital downgraded Hi-Crush Partners from an “outperform” rating to a “sector perform” rating in a report on Tuesday, October 16th. ValuEngine downgraded Hi-Crush Partners from a “sell” rating to a “strong sell” rating in a report on Wednesday. B. Riley raised their target price on Hi-Crush Partners from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, July 24th. Barclays set a $13.00 target price on Hi-Crush Partners and gave the company a “hold” rating in a report on Wednesday, October 10th. Finally, Zacks Investment Research downgraded Hi-Crush Partners from a “buy” rating to a “hold” rating in a report on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. Hi-Crush Partners currently has an average rating of “Hold” and an average price target of $13.93.
Hi-Crush Partners (NYSE:HCLP) last released its earnings results on Tuesday, July 31st. The basic materials company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.10). Hi-Crush Partners had a net margin of 22.92% and a return on equity of 24.51%. The business had revenue of $248.52 million during the quarter, compared to analyst estimates of $250.12 million. During the same period last year, the business posted $0.18 EPS. Hi-Crush Partners’s revenue was up 83.8% compared to the same quarter last year.
In other news, insider William E. Barker sold 12,367 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $12.90, for a total value of $159,534.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William E. Barker sold 9,444 shares of the firm’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $12.40, for a total value of $117,105.60. Following the completion of the transaction, the insider now owns 17,968 shares of the company’s stock, valued at approximately $222,803.20. The disclosure for this sale can be found here. Company insiders own 34.80% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC purchased a new stake in Hi-Crush Partners during the 2nd quarter worth about $167,000. Ingalls & Snyder LLC purchased a new stake in Hi-Crush Partners during the 2nd quarter worth about $198,000. First National Trust Co purchased a new stake in Hi-Crush Partners during the 2nd quarter worth about $238,000. Ladenburg Thalmann Financial Services Inc. increased its position in Hi-Crush Partners by 213.5% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 34,278 shares of the basic materials company’s stock worth $363,000 after purchasing an additional 23,343 shares in the last quarter. Finally, First Republic Investment Management Inc. purchased a new stake in Hi-Crush Partners during the 2nd quarter worth about $434,000. Hedge funds and other institutional investors own 24.13% of the company’s stock.
About Hi-Crush Partners
Hi-Crush Partners LP, together with its subsidiaries, provides proppant and logistics solutions to the energy industry in North America. The company produces monocrystalline sand, a specialized mineral used as a proppant during the well completion process to facilitate the recovery of hydrocarbons from oil and natural gas wells.
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